https://www.taxtmi.com/caselaws?id=200065 The Tribunal dismissed the Revenue's appeal against the deletion of penalty and provision for loss on derivatives, upholding the CIT(A)'s decision. Regarding the Assessee's appeal, the Tribunal directed the AO to delete the disallowance under Sec. 14A and bad debts, setting aside the CIT(A)'s rulings. The Tribunal emphasized that the financial records showed sufficient own funds for earning exempt income and that brokerage charges were part of the same debt. The judgments were pronounced on 13th August 2014. en-us Wed, 13 Aug 2014 00:00:00 +0530 Mon, 19 Mar 2018 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200065 The Tribunal dismissed the Revenue's appeal against the deletion of penalty and provision for loss on derivatives, upholding the CIT(A)'s decision. Regarding the Assessee's appeal, the Tribunal directed the AO to delete the disallowance under Sec. 14A and bad debts, setting aside the CIT(A)'s rulings. The Tribunal emphasized that the financial records showed sufficient own funds for earning exempt income and that brokerage charges were part of the same debt. The judgments were pronounced on 13th August 2014. Case-Laws Income Tax Wed, 13 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200065